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SBI slashed its interest rates on retail term deposits by 20 basis points for ‘up to 3 Years’ tenor, effective from May 12 in view of adequate liquidity in the system as well as with the bank.pic by hemant Mishra/mint

SBI cuts benchmark lending rate by 15 basis points

Mumbai | By Press Trust of India
UPDATED ON MAY 07, 2020 04:17 PM IST
To safeguard the interests of senior citizens in the current falling rate regime, the bank has introduced a new product ‘SBI Wecare Deposit’ for them in the retail term deposit segment, SBI said in a statement.
A distress-ridden rural and informal sector has the potential of triggering a contagion in the formal economy as well(Ajay Aggarwal/HT PHOTO)
A distress-ridden rural and informal sector has the potential of triggering a contagion in the formal economy as well(Ajay Aggarwal/HT PHOTO)

What the Union Budget did not say | Opinion

Hindustan Times | By Roshan Kishore
UPDATED ON SEP 06, 2020 05:36 PM IST
The focus should have been on rejuvenating the informal economy, not the vision of formalisation
SBI’s shares rose as much as 3.5% in a Mumbai market that was trading 0.1% lower as of 0830 GMT.(Hemant Mishra/Mint)
SBI’s shares rose as much as 3.5% in a Mumbai market that was trading 0.1% lower as of 0830 GMT.(Hemant Mishra/Mint)

SBI posts record quarterly profit as bad loan provisions drop

Bengaluru | By Reuters
UPDATED ON JAN 31, 2020 02:36 PM IST
The net profit jumped to 55.83 billion rupees ($785.56 million) in the three months to December 31, from 39.55 billion rupees a year earlier

Retail inflation in October rises to 4.62%, breaches RBI’s medium term target of 4%

Hindustan Times, New Delhi | By Asit Ranjan Mishra
UPDATED ON NOV 13, 2019 05:53 PM IST
India’s factory output shrank for the second straight month at 4.3% in September, recording its worst show since the present series was launched in April 2012.
IMF Managing Director said there has been a very strong growth in India over the last years and the IMF is projecting reasonably strong growth for the country.(Reuters Representative Image)
IMF Managing Director said there has been a very strong growth in India over the last years and the IMF is projecting reasonably strong growth for the country.(Reuters Representative Image)

India has worked on fundamentals, but problems need to be addressed: IMF

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON OCT 18, 2019 07:07 AM IST
The IMF on Tuesday trimmed India’s growth forecast by 90 basic points to 6.1 per cent. This is second downward revision in seven months and in total 120 basis points reduction. 100 basis points is equal to one percentage point.
Data from RBI shows that adjusted non-food bank credit to the commercial sector from banks was negative in the year to September 13(PTI)
Data from RBI shows that adjusted non-food bank credit to the commercial sector from banks was negative in the year to September 13(PTI)

Worrying signals for the economy | HT editorial

Hindustan Times | By HT Correspondent
UPDATED ON OCT 04, 2019 07:00 PM IST
A demand-side intervention, perhaps a tax cut, is in order
RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)
RLLR-based home loan will ensure faster rate cut transmission. (Photo: iStock)

Is it a wise idea to opt for repo-linked loan?

New Delhi | By Neil Borate, Nilanjana Chakraborty
PUBLISHED ON AUG 21, 2019 11:54 PM IST
In the past, there has been a lot of talk of banks not being able to effectively transmit rate cuts to customers
RBI has lowered its growth projections for the first half of the year sharply.(Aniruddha Chowdhury /Mint)
RBI has lowered its growth projections for the first half of the year sharply.(Aniruddha Chowdhury /Mint)

RBI has done its bit, now over to the government

By Ila Patnaik
UPDATED ON AUG 08, 2019 08:50 AM IST
The general sense of gloom in business needs to change before we can expect economic growth.
Existing borrowers whose loans are linked to the MCLR (marginal cost of funds based lending rate) will not see any impact on immediately considering the reset clause. For instance, a loan linked to one-year MCLR and taken out in ,say, June, could see a reset only next June.(REUTERS)
Existing borrowers whose loans are linked to the MCLR (marginal cost of funds based lending rate) will not see any impact on immediately considering the reset clause. For instance, a loan linked to one-year MCLR and taken out in ,say, June, could see a reset only next June.(REUTERS)

SBI lowers lending rate by 15bps, loan EMIs set to ease

Hindustan Times, Mumbai | By Vivina Vishwanathan
UPDATED ON AUG 08, 2019 09:46 AM IST
The reduction will make all loans cheaper; for instance, the rate on home loans will come down to 8.25% from 8.4%. On a 30 lakh loan over a 20-year period, the savings would be Rs 70,000.
Reserve Bank of India (RBI) Governor Shaktikanta Das attends Third Bi-Monthly Monetary Policy press conference in Mumbai on Aug 7, 2019. (ANI Photo)
Reserve Bank of India (RBI) Governor Shaktikanta Das attends Third Bi-Monthly Monetary Policy press conference in Mumbai on Aug 7, 2019. (ANI Photo)

RBI cuts rate, scales down growth outlook

Hindustan Times, Mumbai/New Delhi | By HT Correspondents and Agencies
UPDATED ON AUG 08, 2019 09:47 AM IST
The 35-basis point cut in the repo rate cut was marginally higher than the 25-basis point reduction that had been forecast by most analysts.
The lender added that after its fourth cut in MCLR for the year, home loans had become cheaper by 35 bps since April 10.(HT Photo)
The lender added that after its fourth cut in MCLR for the year, home loans had become cheaper by 35 bps since April 10.(HT Photo)

SBI lowers interest rates after RBI announces fourth rate cut in a row

Bengaluru | By Reuters
UPDATED ON AUG 07, 2019 02:33 PM IST
SBI’s one-year marginal cost of fund-based lending rate, or the MCLR, will come down to 8.25% per annum from 8.40% earlier with effect from Aug. 10, SBI said in a statement.
The risk for emerging markets now is that the Federal Reserve delivers a 25 basis-point cut tomorrow without signaling much else.(Bloomberg Photo)
The risk for emerging markets now is that the Federal Reserve delivers a 25 basis-point cut tomorrow without signaling much else.(Bloomberg Photo)

Pain, not gain, may be in store for emerging markets after Fed

Bloomberg | By Justin Carrigan
UPDATED ON JUL 30, 2019 07:11 PM IST
Yield spreads on sovereign dollar bonds were an average of 2 basis points higher, according to JPMorgan Chase & Co.’s EMBI+ Index.
Prime Minister Narendra Modi has few options left as a slowing economy crimps tax revenue, while investors have been concerned about his plans to borrow a record 7.1 trillion rupees this fiscal year, a target Sitharaman left unchanged.(PTI)
Prime Minister Narendra Modi has few options left as a slowing economy crimps tax revenue, while investors have been concerned about his plans to borrow a record 7.1 trillion rupees this fiscal year, a target Sitharaman left unchanged.(PTI)

Foreign bond sale plan spurs best India bond rally in six months

Bloomberg | By Bloomberg
UPDATED ON JUL 05, 2019 05:28 PM IST
The administration will set the budget deficit target for the current fiscal year at 3.3% of gross domestic product, according to people familiar with the matter. That’s lower than the 3.4% estimated in February’s interim plan.
Economic Survey 2018-19(Raj k Raj/HT Photo)
Economic Survey 2018-19(Raj k Raj/HT Photo)

As Sitharaman set to present Budget, state of economy explained in 4 charts

Hindustan Times | By Roshan Kishore
UPDATED ON JUL 05, 2019 11:20 AM IST
The Economic Survey gives a wealth of information, both in terms of analysis and statistics, about the economy. Here are four key themes that will help us gain a better understanding of what lies ahead for the next year.
Both NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are real-time payment systems maintained by the RBI and incur some associated charges.
Both NEFT (National Electronic Funds Transfer) and RTGS (Real Time Gross Settlement) are real-time payment systems maintained by the RBI and incur some associated charges.

RBI to do away with charges on online money transfer

Hindustan Times, Mumbai | By Vivina Vishwanathan
UPDATED ON JUN 06, 2019 12:32 PM IST
The meeting, first after the Lok Sabha elections, also decided to set up a committee involving all stakeholders, under the chairmanship of CEO Indian Banks’ Association (IBA), to examine the entire gamut of ATM charges and fees.
The policy decision will be announced at 11:45 a.m. in Mumbai, followed by a press conference 15 minutes later by Das.(REUTERS FILE)
The policy decision will be announced at 11:45 a.m. in Mumbai, followed by a press conference 15 minutes later by Das.(REUTERS FILE)

RBI likely to slash interest rates in third straight cut

By Anirban Nag
UPDATED ON JUN 06, 2019 09:41 AM IST
The six-member monetary policy committee led by Governor Shaktikanta Das will reduce the repurchase rate by 25 basis points to 5.75% on Thursday, say 31 of 43 economists surveyed by Bloomberg, while three are penciling in a 50 basis points cut.
The Reserve Bank of India (RBI) cut the policy rate by 25 basis points (bps) for the second consecutive time earlier this month as concerns over growth loomed larger than those surrounding inflation.(PTI file photo)
The Reserve Bank of India (RBI) cut the policy rate by 25 basis points (bps) for the second consecutive time earlier this month as concerns over growth loomed larger than those surrounding inflation.(PTI file photo)

IIP at 20-mth low, CPI inflation rises

Hindustan Times, New Delhi | By Asit Ranjan Mishra
UPDATED ON APR 12, 2019 11:21 PM IST
India’s factory output growth dropped to a 20-month low in February in a worrying sign for the country’s growth prospects, while retail inflation accelerated in March but remained within the central bank’s comfort zone, creating room for more interest rate cuts.
Most SBI retail loans, including home loan, car loan and personal loans, are currently linked to one-year MCLR.(REUTERS File)
Most SBI retail loans, including home loan, car loan and personal loans, are currently linked to one-year MCLR.(REUTERS File)

State Bank of India cuts lending rate: Here’s how it affects you

Hindistan Times, Mumbai | By Vivina Vishwanathan
UPDATED ON APR 10, 2019 12:35 PM IST
SBI’s marginal rate cut of 5 bps comes after the Reserve Bank of India’s consecutive rate cut by 50 bps in the February and April monetary policy.
Proper documentation a must: When you are buying a used car, you need to first check all the documents.(Parveen Kumar/Hindustan Times)
Proper documentation a must: When you are buying a used car, you need to first check all the documents.(Parveen Kumar/Hindustan Times)

Planning to take a loan for used car? 3 things you must know

Hindustan Times, Mumbai | By Vivina Vishwanathan
UPDATED ON APR 09, 2019 12:02 PM IST
Bankers say that there has been 12-18% rise in the used car loans as well. If you are also planning to buy a used car, here are a few things that you need to focus on.
The Reserve Bank of India (RBI) announced its first policy of FY 20 on Thursday(REUTERS)
The Reserve Bank of India (RBI) announced its first policy of FY 20 on Thursday(REUTERS)

RBI cuts repo rate by 25 bps for second time in 2019; loans may get cheaper

Hindustan Times, Mumbai | By Vivina Vishwanathan
UPDATED ON APR 04, 2019 01:33 PM IST
The key benchmark rate at 6% and the MPC has maintain the neutral monetary policy stance
Workers and customers look through the goods at a wholesale food grain and commodities shop in the Agricultural Product Marketing Committee (APMC) Yard in Bangalore.(AFP file photo)
Workers and customers look through the goods at a wholesale food grain and commodities shop in the Agricultural Product Marketing Committee (APMC) Yard in Bangalore.(AFP file photo)

Retail inflation eases to 2.05% in January, factory output improves

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 12, 2019 06:04 PM IST
Retail inflation declined from 2.19 per cent in December last year to 2.05 per cent in January this year, according to the data released by the Central Statistics Office (CSO) on Tuesday.
The Reserve Bank of India on Thursaday cut the repo rate by 25 basis points to 6.25 percent and pegged the GDP for 2019-20 at 7.4 per cent.(REUTERS)
The Reserve Bank of India on Thursaday cut the repo rate by 25 basis points to 6.25 percent and pegged the GDP for 2019-20 at 7.4 per cent.(REUTERS)

RBI makes surprise cut in interest rate, home loans could get cheaper

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 07, 2019 12:37 PM IST
The four of the six members of the monetary policy committee voted to cut rates while all six voted for a change in the stance.
The fiscal deficit for the current financial year is likely to be around 3.4% of gross domestic product (GDP), marginally higher than the targeted 3.3%.(Diwakar Prasad/ Hindustan Times)
The fiscal deficit for the current financial year is likely to be around 3.4% of gross domestic product (GDP), marginally higher than the targeted 3.3%.(Diwakar Prasad/ Hindustan Times)

Budget 2019: Govt misses fiscal deficit target, revises it upwards

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 02, 2019 02:36 PM IST
The fiscal deficit for the current financial year is likely to be around 3.4% of gross domestic product (GDP), marginally higher than the targeted 3.3%.
The rupee fell past 72 per dollar to a record low on Thursday, amid a deepening emerging market contagion and the risk of a wider current-account deficit(REUTERS File Photo)
The rupee fell past 72 per dollar to a record low on Thursday, amid a deepening emerging market contagion and the risk of a wider current-account deficit(REUTERS File Photo)

India will have to pay Rs 68,500 crore extra to repay debt due to weak rupee

Bloomberg | By Anirban Nag
UPDATED ON SEP 07, 2018 05:47 PM IST
India’s short-term debt obligations, which included non-resident deposits as well as overseas commercial borrowings by companies, totaled $217.6 billion in 2017.
India’s retail inflation rate accelerated to a five-month high of 5% in June, government data showed on Thursday, driven by higher fuel prices and a depreciating rupee.(Reuters/Photo for representation)
India’s retail inflation rate accelerated to a five-month high of 5% in June, government data showed on Thursday, driven by higher fuel prices and a depreciating rupee.(Reuters/Photo for representation)

India’s retail inflation rate in June at five-month high of 5%

New Delhi | By Reuters
UPDATED ON JUL 12, 2018 07:03 PM IST
Analysts had forecast June’s annual increase in the consumer price index at 5.30%, compared with May’s 4.87%. The forecasts for June ranged from 4.60% to 6%.
Dried fruits, nuts and spices are displayed at a store at Khari Baoli spice market in New Delhi, India.(Ruhani Kaur/Bloomberg)
Dried fruits, nuts and spices are displayed at a store at Khari Baoli spice market in New Delhi, India.(Ruhani Kaur/Bloomberg)

Retail inflation accelerates to four-month high of 4.87% in May

Agencies, New Delhi | By HT Correspondent
UPDATED ON JUN 12, 2018 10:40 PM IST
Consumer price (CPI) inflation in May rose for the seventh straight month, remaining higher than the central bank’s medium-term target of 4%.
RBI governor Urjit Patel, at the RBI headquarters after the announcement of a 0.25 per cent rate hike by the central bank, in Mumbai on Wednesday.(PTI Photo)
RBI governor Urjit Patel, at the RBI headquarters after the announcement of a 0.25 per cent rate hike by the central bank, in Mumbai on Wednesday.(PTI Photo)

Loans to get expensive as RBI hikes repo rate after 4 years

Hindustan Times, Mumbai | By Vivina Vishwanathan, Mumbai
UPDATED ON JUN 07, 2018 11:35 AM IST
This is the first time RBI has hiked the repo rate since January 2014, making it the first increase during the Narendra Modi government’s regime. The policy rate was 6.25% till August 2017, when RBI had cut it by 25 basis points.
A customer hands over cash to a food grain merchant at a wholesale trading shop in Bangalore on February 28, 2017.(AFP File Photo)
A customer hands over cash to a food grain merchant at a wholesale trading shop in Bangalore on February 28, 2017.(AFP File Photo)

India’s average GDP growth to rise to 7.8% in first half of this yr: Report

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON APR 25, 2018 01:26 PM IST
According to the Japanese financial services major Nomura, investment and consumption demand are the main drivers for India’s growth, amid worsening net exports.
On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 % from 6.50%, according to the bank’s website.(Reuters File Photo)
On deposits of less than Rs 1 crore for a tenure of two to three years, the interest rate has been raised to 6.60 % from 6.50%, according to the bank’s website.(Reuters File Photo)

SBI hikes interest rates for fixed deposits across tenures by 10-25 basis points

Indo Asian News Service, New Delhi | By Indo Asian News Service
UPDATED ON MAR 28, 2018 09:28 PM IST
For tenures of three to five years and five to ten years, rates have been hiked from 6.50% to 6.70%, and from 6.50% to 6.75%, respectively.
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